“A Little Mixed Up” – Vista Partners Daily Market Recap 3/12/2019
The major indices were mixed today with two of the three seeing gains while the Dow ended the day in the red. The S&P 500 increased 0.3% (8.22 points) while the Nasdaq climbed 0.44% (32.97 points). The Dow was dragged down by Boeing (BA) once again today, and by the time the market closed, it was down 0.38% (96.22 points).
Boeing continued its precipitous decline today after the second one of its air crafts crashed within six months this weekend. The company had tumbled 6.15% as trading ended. Not all the components of the Dow performed poorly, though. Apple (AAPL) rose 1.12% during the session while United Health Group (UNH) also had a 1.12% increase.
Atossa Genetics (ATOS) fell today, but not too drastically. It saw losses of 0.66%.
The Bureau of Labor Statistics today released their monthly Consumer Price Index for February. The CPI was expected to rise by 0.2% and that prediction was right on target according to the report, bringing it to a 1.5% year-over-year.
Paul Ashworth with Capital Economics gave his interpretation of the numbers. “With headline CPI inflation edging down to a two-and-a-half-year low of 1.5% in February, from 1.6%, and core inflation dropping to a four-month low of 2.1%, from 2.2%, the Fed would appear to be justified in supporting the real economy by being patient and leaving interest rates on hold for a potentially extended period.”
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
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